Construction Project Cost Estimation & Management - A to Z

Complete Guide on Cost Estimation and Bid Submission for Tenders in Construction Project Management

This is a well structured course that exhaustively covers the process of tendering(bidding), cost estimation, and management of the project upon successful award of the contract. Several excel workings for each cost component estimation is presented and project case studies are presented to help you all get an excellent exposure. Resources are attached with the videos & quizzes are linked section wise to encapsulate the learnings. General scenarios & examples are given wherever possible to help students connect to the content easily. The course shall give learners a holistic view of the entire process from the very beginning when contractors receive the notice inviting tender or prequalification proposal to final bid or price submission and subsequently managing the project operations/execution to get anticipated profit margins. Every topic is explained in the most simplified yet comprehensive way.

Costing knowledge is so crucial in construction & no matter what stage of career you're in, this course has a potential to uplift you by certain level. Fresher or a Project Manager, doesn't matter. Go ahead !

The course flows in a very sequential manner, each video linked to previous content, and is divided into 8 Sections consisting of a total of 71 lectures.

Section 1 (Introduction & Course Outline) - Understand the meaning of cost estimation in construction & why it is an indispensable part of it. Covers an entire video explaining the course structure.

Section 2 (Construction Estimating & Tendering Process) - Starts with a flow chart of the entire bidding process and subsequently elaborates each component of the same with practical overview. More of a qualitative section yet a significant one.

Section 3 (Components of Bid Price) - Sets the base for all the next sections through a short & crisp video. Talks about what bid price is constituted of. Breakup of the same is defined in this section, the details of which are presented henceforth.

Section 4 (Estimation of Direct Construction Cost) - Direct cost and all associated components like labor, material, equipment, subcontractor are explained in the most elaborative manner. Every cost component is explained through excel workings & case studies.

Section 5 (Estimation of Indirect Construction Cost) - Indirect cost and all associated components like staff salaries, utlities, insurances, financing, conveyance & travel, temporary structures, common workmen, etc. are covered in depth.

Section 6 (Estimation of Additional Components in Construction - Markup) - Profit margin, contingency & risk, general overheads, etc. are explained. Distribution of markup and final submission of bid price bring the costing component of the course to an end.

Section 7 (Cost Management in Construction Projects) - After bid submission, if contractor wins the job, management & monitoring is significant to make profits. One such method to help control the schedule & cost is EVM. Using EVM in projects is explained through a case study. Furthermore, managing costs of labor, material, equipment, and subcontractor is explained.

Section 8 (Case Studies for Cost Estimation in Construction) - 5 case studies are presented to help learners understand the importance of cost estimation and how inefficient estimation led to blunders in real projects is shown.

Congrats !! You can start with your project cost estimation now. All the best learners !!